The Market In 5 Minutes: CSX CEO, Overstock, Net Neutrality, Amazon Prime, And More

IN THE NEWS

Traders are always on the lookout for a stock that can ride the market momentum in a given sector or business. Based on the way the market is trending in the past month or so, Overstock.com Inc OSTK has major exposure to two of the hottest trends on Wall Street at the moment—cryptocurrency and retail: Link

The Federal Communications Commission voted 3-2 Thursday to kill net neutrality rules previously requiring internet service providers to treat online traffic equally: Link

Several Republican senators expressed last-minute doubts about the tax-overhaul plan in Congress, possibly an attempt to strengthen their negotiating positions before a compromise plan set to be released on Friday and final votes planned for early next week: Link

CSX Corp. CSX Chief Executive Hunter Harrison has taken a medical leave of absence due to unexpected complications from a recent illness: Link

After years of double-digit growth, home solar installations in the United States are poised to fall for the first time this year, according to a report released on Thursday by GTM Research.: Link

The Great Recession is a speck in the rear-view mirror for America’s financial markets. They’ve advanced far beyond pre-crisis levels. In fact, Goldman Sachs says you can go back a century before 2008, and still not find a “bull market in everything” like today’s: Link

Michael Bloomberg says this tax bill is a trillion-dollar blunder. Bloomberg says Congress and President Trump put politics ahead of smart reform: Link

Mighty Jeff Bezos has hit a wall. The number of US shoppers who are willing to fork out $99 a year for Amazon AMZN Prime had zero growth in the third quarter, according to a report on Thursday: Link

ECONOMIC DATA

  • USA NY Empire State Manufacturing Index for Dec 18.00 vs 18.60 Est; Prior 19.40
  • Data on industrial production for November will be released at 9:15 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
  • The Treasury International Capital data for October will be released at 4:00 p.m. ET.

ANALYST RATINGS

  • Macquarie upgraded T-Mobile TMUS from Neutral to Outperform
  • Barclays upgraded Sealed Air SEE from Equal-Weight to Overweight
  • Barclays upgraded Sonoco SON from Underweight to Equal-Weight
  • KeyBanc downgraded 21st Century Fox FOXA from Overweight to Sector Weight
  • Gabelli downgraded Nordson NDSN from Buy to Hold
  • Axiom downgraded Canadian Solar CSIQ from Buy to Hold

This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.

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